AI-Based Digital Pathology Market Set to Surge at 8.59% CAGR by 2031.

"AI-Based Digital Pathology Solutions Market" in terms of revenue is poised raise at a CAGR of 8.59% from 2023 to 2031 according to a new report by InsightAce Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the AI-based digital pathology solutions market are:
• Technological advancement
• Increasing chronic diseases
• Expanding knowledge of cutting-edge medical treatment

The following are the primary obstacles to the AI-based digital pathology solutions market 's expansion:
• Expensive price of digital pathology equipment
• Inadequate data for AI algorithm training
• Problem with finding qualified pathologists

Future expansion opportunities for the AI-based digital pathology solutions market include:
• An increasing amount of incorrect diagnoses
• Increasing investment in research and development
• Growing medical facilities

Market Analysis:
AI-based digital pathology is the branch of pathology that utilizes digital imaging techniques. Utilizing computer workstations to examine digital whole slide images (WSIs) captured from high-resolution scanning of glass microscope slides is known as digital pathology. The rising incidence of incorrect diagnoses, the rising need for technologically sophisticated solutions, and the growing emphasis on cost management and efficiency improvement in hospitals are all elements propelling the industry forward.

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List of Prominent Players in the AI-Based Digital Pathology Solutions Market:
• Roche
• Leica Biosystems
• Hamamatsu Photonics
• Koninklijke Philips
• 3D Hsitech
• Apollo Enterprises Imaging
• Xifin
• Huron Digital Pathology
• Vision pharms
• Corista
• Indica Labs
• Objective Pathology Services

Recent Developments:
• In January 2024, Roche announced that it had entered into a final merger agreement to acquire Carmot Therapeutics, Inc. ("Carmot"), a privately held US company in Berkeley, California. A variety of preclinical programs and clinically stage subcutaneous and oral incretins with best-in-class potential to treat obesity in patients with and without diabetes are part of Carmot's research and development portfolio.
• In November 2023, Leica Biosystems further strengthened its partnership with hospitals and laboratories worldwide later to make use of the innovative digital pathology workflows. Building on their prior partnership, Leica Biosystems has selected Paige to supply their Aperio GT 450 digital pathology slide scanners with view and manage digital pathology images software and a range of embedded AI technologies.
• In October 2023, 3DHISTECH of Hungary and Epredia, a part of the PHC Group (based in Japan), opened the Pathology Innovation Incubator in Budapest. The incubator will focus on developing methods and equipment for more accurate and faster cancer and tumor lesion diagnoses.

AI-Based Digital Pathology Solutions Market Dynamics:
Market Drivers: Increasing Chronic Diseases
Increases in the prevalence of chronic diseases and the number of tests needed to diagnose them lend credence to the product's potential for widespread use. Prompting product adoption and increased efforts by market participants to meet the rising demand for diagnostics are expected to fuel the industry's expansion. In addition, the market is anticipated to be boosted by these platforms' increasing number of applications, particularly in predictive analysis.

Challenges: Expensive Price of Digital Pathology Equipment
High prices and a lack of trained operators will likely slow the spread of these devices. Because AI is so dependent on digital pathology systems for data collecting and analysis, the large initial expenditure needed to set them up is a barrier to AI adoption. Software, an image server, and a slide scanner comprise a standard digital pathology system. The difficulty of guaranteeing access to high-quality data hinders the development of trustworthy AI models.

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North America is Expected to Grow with the Highest CAGR During the Forecast Period
The North America AI-based digital pathology solutions market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because of its advanced healthcare infrastructure, high per capita income, and abundant top research institutions and labs. The growing use of digital pathology solutions and changes to update the region's pathology infrastructure drove this development. An additional driver of market growth in this region is the increasing availability of advanced AI technologies and the continuous expansion of healthcare infrastructure.

Segmentation of AI-Based Digital Pathology Solutions Market-
By Type of Neural Network -
• Artificial Neural Network
• Convolutional Neural Network
• Fully Convolutional Network
• Recurrent Neural Network
• Other Neural Networks
By Type Of Assay -
• ER Assay
• HER2 Assay
• Ki67 Assay
• PD-L1 Assay
• PR Assay
• Other Type of Assays
By Type Of Target Disease Indication -
• Breast Cancer
• Colorectal Cancer
• Cervical Cancer
• Gastrointestinal Cancer
• Lung Cancer
• Prostate Cancer
• Other Indications
By Application -
• Diagnostics
• Research
• Other Applications
By End-User-
• Academic Institutions
• Hospitals/Healthcare Institutions
• Laboratories/Diagnostic Institutions
• Research Institutes
• Other End Users
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.